Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Significant Decline in Short Interest

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 592,459 shares, a decline of 33.3% from the November 30th total of 888,853 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 206,394 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 206,394 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.5% of the company’s shares are sold short.

Institutional Trading of Rockwell Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in RMTI. Panagora Asset Management Inc. acquired a new stake in shares of Rockwell Medical during the second quarter worth about $41,000. GSA Capital Partners LLP lifted its stake in Rockwell Medical by 635.1% during the third quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock worth $197,000 after purchasing an additional 141,672 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after buying an additional 148,737 shares in the last quarter. Institutional investors and hedge funds own 23.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RMTI shares. HC Wainwright lowered their target price on shares of Rockwell Medical from $3.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Rockwell Medical from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.50.

Rockwell Medical Stock Performance

NASDAQ:RMTI traded up $0.01 during mid-day trading on Tuesday, hitting $0.82. The company’s stock had a trading volume of 286,094 shares, compared to its average volume of 579,787. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.91 and a quick ratio of 3.50. The business’s fifty day moving average is $0.96 and its two-hundred day moving average is $1.10. Rockwell Medical has a 1 year low of $0.78 and a 1 year high of $2.41. The stock has a market cap of $32.14 million, a price-to-earnings ratio of -5.10 and a beta of 1.62.

About Rockwell Medical

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.